Canadian dollar posts limited gains as services economy shrinks and speculators raise bearish bets

The Canadian dollar rose modestly against the U.S. dollar on Monday, but gains were limited as investors weighed developments in the Middle East against data showing continued contraction in Canada’s services sector. Mixed geopolitical risk and weak domestic services data left FX moves subdued and market participants cautious.

Analysis

The Canadian dollar rose modestly against the U.S. dollar on Monday, but gains were limited as investors weighed developments in the Middle East against data showing continued contraction in Canada’s services sector. Mixed geopolitical risk and weak domestic services data left FX moves subdued and market participants cautious.